South Korea to ban cryptocurrency traders from using anonymous bank accounts

FILE PHOTO: An electric board showing exchange rate between South Korean Won and Bitcoin at a cryptocurrencies exchange in Seoul
Thomson Reuters
SEOUL (Reuters) - South Korea will ban the use of anonymous bank accounts in cryptocurrency trading from Jan. 30, the nation's financial regulator said on Tuesday.

Local cryptocurrency traders will not be allowed to make deposits into their virtual coin exchange wallets unless the name on their bank account matches the account name in cryptocurrency exchanges, Kim Yong-beom, vice chairman of the Financial Services Commission told a news conference in Seoul.